LAW 531 Week 1 DQ 3
1. Please discuss the key differences between limited liability company (LLC) and a subchapter S corporation
2. Please discuss the key differences between a subchapter S corporation and a general corporation (C or G) corporation?
Use the following questions to guide you in your discussion.
o how are the entities formed (created)?
o who are the owners of the entities?
o what kind of liability exposure do the owners of the entities have?
o how are the entities/owners taxed?
o how are the entities dissolved according to statute?
o degree of formality in operating the entities?
o do the entities lend themselves to managerial control?
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